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Loren, Attorney

Category: Business Law

Satisfied Customers: 29102

Experience: 30 years experience representing clients .

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Can I change the ownership of a business without going

Customer Question

Can I change the ownership of a business without going through forming a new corporation entity? I own a business in NYC which I will handover to someone else. Can I do it without going over forming a new company, bank account, filing for new EIN and NYS sales tax. I want to save extra work for the person who will own the company after me. Can we change info within the existing legal framework?Thank you.

Yes, you can sell all of the capital stock of the corporation to a buyer and they will then own the corporation. Any asset of the corporation is still owned by the corporation. Only the shareholder has changed.

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